Russian mobile operator posts Q1 results

The net profit of VimpelCom-Region, a subsidiary of the Russian mobile giant VimpelCom, came to nearly $40,000 in the first quarter of 2003. Analysts expected the profits from the company's regional activities to come a bit later. Now, these earlier than expected profits may compensate for the negative effects from a downtrend in ARPU (average revenue per user).

According to the company's consolidated GAAP report, the VimpelCom earnings grew by 68.5 percent in Q1, 2003 against the same period of 2002 and amounted to about $244.437m, the net profits by 47.6 percent to $41.387m and EBITDA by 70.6 percent to $107m, while EBITDA profitability rose from 43.6 percent to 44.2 percent.

The number of VimpelCom's subscribers has reached 6.92m, including 4.22m living in Moscow, the Vremya Novostey newspaper reported.